- This topic has 2 replies, 3 voices, and was last updated 13 years ago by .
Viewing 3 posts - 1 through 3 (of 3 total)
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.
OpenTuition recommends the new interactive BPP books for December 2024 exams.
Get your discount code >>
Forums › ACCA Forums › ACCA LW Corporate and Business Law Forums › Keep an offer open by estoppel
Can you do that, or do you need consideration. It makes sense that you can because one party does something to their detriment and the other party relies on that.
I haven’t heard of that, but it sounds similar to not being able to retract an offer when consideration is executory, and the offeree has already began to perform whatever act is required (unilateral offer, Errington v Errington).
an offer can be kept open when offeree gives additional consideration to keep it open. if then offeror retracts his offer, offeree can sue him for loss of opportunity but cannot accept the contract then.
case of errington is different which is example of unilateral offer where one party gives promise to another for his act. if the act is already started by the offeree , the offeror cant retract the offer.